Exit Planning Tips
Selling a Herb Retailer
There is a lot of confusion about the best way to sell a herbs retailer these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a herbs retailer sale works.
If your exit strategy involves selling a herbs retailer now, business sellers may need to apply a combination of incentives and techniques.
When Is the Right Time to Sell?
When is it the right time to sell your herbs retailer? If you're asking the question, now may be the time to put your business on the market. Some experts are telling herbs retailer sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the herbs retailer marketplace. With so many sellers holding back, there isn't a lot of inventory out there and you may be able to get a great price for your practice depending on how well you prepare the business and your ability to execute your sale strategy.
Leveraging Seller Concessions
In the current marketplace, seller concessions can make the difference between a business sale and a herbs retailer that languishes on the market for months or even years. In a down economy sellers become bankers; an unwillingness to finance at least part of the sale of a herbs retailer can translate into a dead deal. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Brokerage isn't cheap. But even though you can spend as much as 10% of the sale price on a good broker, you'll likely achieve decent ROI through an improved final sale price.
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